Earnest Partners LLC Cuts Stock Position in Becton, Dickinson and Company (NYSE:BDX)

Earnest Partners LLC cut its holdings in Becton, Dickinson and Company (NYSE:BDX) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 6,003 shares of the medical instruments supplier’s stock after selling 137 shares during the quarter. Earnest Partners LLC’s holdings in Becton, Dickinson and Company were worth $1,362,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC grew its holdings in shares of Becton, Dickinson and Company by 98.2% in the fourth quarter. Brighton Jones LLC now owns 1,770 shares of the medical instruments supplier’s stock valued at $401,000 after purchasing an additional 877 shares in the last quarter. E. Ohman J or Asset Management AB grew its holdings in shares of Becton, Dickinson and Company by 13.4% in the fourth quarter. E. Ohman J or Asset Management AB now owns 176,097 shares of the medical instruments supplier’s stock valued at $39,951,000 after purchasing an additional 20,859 shares in the last quarter. Busey Bank boosted its stake in Becton, Dickinson and Company by 3.8% during the fourth quarter. Busey Bank now owns 66,255 shares of the medical instruments supplier’s stock worth $15,031,000 after buying an additional 2,399 shares during the period. Centre Asset Management LLC bought a new position in Becton, Dickinson and Company during the fourth quarter valued at $8,382,000. Finally, Nordea Investment Management AB increased its position in Becton, Dickinson and Company by 31.0% during the fourth quarter. Nordea Investment Management AB now owns 2,844,566 shares of the medical instruments supplier’s stock valued at $647,082,000 after acquiring an additional 673,568 shares during the last quarter. 86.97% of the stock is owned by hedge funds and other institutional investors.

Becton, Dickinson and Company Stock Performance

Becton, Dickinson and Company stock opened at $205.10 on Tuesday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.13 and a quick ratio of 0.63. Becton, Dickinson and Company has a 1-year low of $193.03 and a 1-year high of $251.99. The firm has a market capitalization of $58.89 billion, a P/E ratio of 34.07, a price-to-earnings-growth ratio of 1.63 and a beta of 0.35. The company’s 50-day moving average is $218.06 and its 200 day moving average is $226.98.

Becton, Dickinson and Company (NYSE:BDX) last issued its earnings results on Wednesday, February 5th. The medical instruments supplier reported $3.43 EPS for the quarter, topping analysts’ consensus estimates of $3.00 by $0.43. Becton, Dickinson and Company had a net margin of 8.47% and a return on equity of 15.74%. Research analysts forecast that Becton, Dickinson and Company will post 14.43 EPS for the current year.

Becton, Dickinson and Company declared that its board has initiated a share buyback plan on Tuesday, January 28th that allows the company to buyback 10,000,000 outstanding shares. This buyback authorization allows the medical instruments supplier to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Transactions at Becton, Dickinson and Company

In other news, EVP Michael David Garrison sold 479 shares of the firm’s stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $197.28, for a total transaction of $94,497.12. Following the transaction, the executive vice president now directly owns 4,887 shares of the company’s stock, valued at approximately $964,107.36. This trade represents a 8.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Richard Byrd sold 459 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $230.00, for a total transaction of $105,570.00. Following the transaction, the executive vice president now directly owns 6,952 shares in the company, valued at approximately $1,598,960. This trade represents a 6.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,578 shares of company stock valued at $795,986. 0.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

BDX has been the topic of a number of analyst reports. StockNews.com upgraded shares of Becton, Dickinson and Company from a “hold” rating to a “buy” rating in a research report on Wednesday, April 2nd. Piper Sandler reduced their price objective on shares of Becton, Dickinson and Company from $280.00 to $260.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays reduced their price objective on shares of Becton, Dickinson and Company from $279.00 to $261.00 and set an “overweight” rating on the stock in a research report on Monday, April 7th. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $272.86.

Becton, Dickinson and Company Company Profile

Becton, Dickinson and Company develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide. The company operates in three segments: BD Medical, BD Life Sciences, and BD Interventional.